Gold remained under pressure on Friday as President Barack Obama's plans to limit financial risk taking raised concerns about diminishing capital flows from banks, which have provided liquidity for gold and commodities investors. Stock markets across Asia fell around 2 percent on Friday, after US shares suffered their worst one-day percentage drop since October on Thursday, while commodities continued their broad slide.

While falling prices could offer some good bargains, investors will likely wait to see how long the global stock market plunge continues and how much in speculative long positions is cleared by current selling before they return to buying gold and other precious metals in full force, he said.

Copyright Reuters, 2010